B2B music streaming company Soundtrack Your Brand has confirmed it is renewing its global licensing agreement with Warner Music, while also introducing a new on-demand service christened Soundtrack Unlimited, which will supply licensed streamed music for businesses.
An official press release claims Soundtrack Unlimited is a “world first on-demand product for B2B music streaming” that will curate “soundtracks by genre, sound and business type to help venues play music with a consistent vibe.”
The Soundtrack Unlimited on-demand service will retail at the equivalent of $40-50 per month in markets worldwide. It will enable businesses to jump, skip and replay tracks, as well as create their own playlists and import others from Spotify.
Soundtrack Your Brand state that rightsholders are losing around $2.65 billion worldwide because businesses are not using properly licensed services, citing that the clear opportunity to grow the market with some 70 million commercial subscribers worldwide.
The whole industry needs to join forces and make sure that compliance is ensured across the B2B music market, as it’s our collective responsibility to help those trying to make a living from their art
Ola Sars, Soundtrack Your Brand
Warner Music first licensed Soundtrack two years ago and has since rolled its service into 74 markets, with Warner’s artists being played billions of times in 60,000 venues worldwide.The service enables artists to reach over five billion customers worldwide as they visit venues including Lululemon, McDonald’s and W Hotels.
In return, Soundtrack will also provide data to Warner, enabling the music company to see where and when its individual artists’ music is being played worldwide.
Speaking about the deal, Ola Sars, founder and CEO, Soundtrack Your Brand, said: “Soundtrack is committed to increasing value in music streaming overall by fixing the broken and outdated background music market. Together with Warner Music we’re at the forefront of this change, driving innovation together in order to unlock value for music creators. We’re increasing pricing by five to 10 times and therefore significantly increasing royalties paid out to labels and artists, all this enabled by a superior product offering throughout 74 markets. Now the whole industry needs to join forces and make sure that compliance is ensured across the B2B music market, as it’s our collective responsibility to help those trying to make a living from their art.”
John Rees, SVP global business development, WMG, added: “Soundtrack Your Brand has created a first-class streaming service that's tailored to deliver music and data insights to businesses across the world. Warner continues to support them during this exciting new chapter, so that we can work to ensure that fair value from the commercial sector is being returned to artists and creators. With the launch of the new on-demand product, businesses around the globe can now access Warner’s incredible catalogue in new ways.”